Gold Futures Score First Weekly Gain in a Month

Gold futures climbed Friday to tally a gain for the week, the first in four weeks, as geopolitical tensions remained high, boosting haven demand for the precious metal.

President Donald Trump announced further sanctions on Iran. "The confrontation with Iran [is] still very real," said Jeff Wright, executive vice president of GoldMining Inc. "So you have safe-haven interest perking up into the weekend." Trump also said Friday that he didn’t need a trade deal with China before the 2020 election and reports said that a Chinese delegation cancelled plans to visit farms in Montana as part of its trade negotiations with the U.S. December gold gained $8.90, or 0.6%, to settle at $1,515.10 on Comex. It rose about 1% for the week, according to FactSet data.

Source : Marektwatch

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